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Former US President Trump caught in legal trouble, allegation – fraud to take out loan and pay less tax

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Washington. Former US President Donald Trump is in trouble. He, his three children and his family business The Trump Organization have been charged with fraud. After investigation, he is accused of giving false information about his real estate to take out loans and pay low taxes. Prosecutors say the Trump Organization committed multiple frauds between 2011 and 2021. However, Trump dismissed the lawsuit as an act of retaliation.

Significantly, in this case, along with former President Donald, his sons Donald Jr., Ivanka, Eric Trump, two of his officers Alan Weiselberg and Jeffrey McConny were implicated. This case is three years old. It was filed by lead attorney and New York Attorney General Letitia James. In a statement, James said senior Trump Organization officials and Trump children, along with Donald Trump, have proven successful and betrayed the system. He wrongly said that his wealth would increase by billions of rupees. He said Trump had priced his apartment in Trump Tower at $327 million, when no apartment in New York has ever sold for that price.

what’s in the lawsuit
The 222-page document accuses Trump and his organization of lying about hotels, golf courses and other assets. So you can borrow more and pay less tax. In the span of a decade, Trump and his family have made nearly 200 false or misleading statements. The cost of developing certain properties and estates has been inflated to achieve maximum tax exemption. Each statement has been personally attested to by Donald Trump, his son Donald Jr. or former Trump Organization economics expert Allen Wesselberg. The Trump family benefited from this plan of around $250 million, which the government wants to recover.

The lawyer said this thing
New York Attorney General Letitia James said when resourceful people break the law in this way, it cuts into the resources of ordinary people, small business people and all taxpayers. James asked the court to bar the former president and his children from being directors or officers of a company in New York. He also says the Trump Organization should be banned for five years for dealing in real estate.

Tags: Donald Trump, News from New Delhi

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